(RTTNews) -  Gammon Gold Inc. (GAM.TO: News , GRS) said it completed the public offering of 12.95 million common shares at a price of U.S.$8.90 per common share for gross proceeds of U.S.$115.04 million.

The Offering was sold on a bought deal basis to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and UBS Securities Canada Inc. and including Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Canaccord Capital Corporation and Research Capital Corporation, and includes 1.17 million common shares issued pursuant to the full exercise of the over-allotment option.
The net proceeds of the Offering will be used to fund expanded operations exploration programs at the Ocampo and El Cubo mines, the advancement of the Guadalupe y Calvo project, debt repayment, greenfields exploration and general corporate purposes.

Click here to receive FREE breaking news email alerts for Gammon Gold Inc. J and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com